Dedola, Luca; Gautier, Erwan; Nakov, Anton; Santoro, Sergio - 2023
This paper analyses the implications of the evidence on micro price setting gathered by Price-setting Microdata … evidence. According to models calibrated to the euro area micro evidence in Gautier et al. (2022, 2023), infrequent price … changes and moderate state dependence in price setting should result in a meaningful Phillips curve in the euro area …